Through the merger of International Enterprise (IE) Singapore and SPRING Singapore, Enterprise Singapore was officially launched yesterday (2 April 2018). Enterprise Singapore will be the single agency championing the growth of Singapore companies of all sizes. It will also continue to establish Singapore as a leading global trading hub, and build trust in Singapore’s products and services.
Png Cheong Boon, chief executive officer (CEO) of Enterprise Singapore, shared the role and focus of the agency at the launch event yesterday graced by S. Iswaran, minister for trade and industry, along with 300 industry partners. Png outlined the agency’s strategies to take an enterprise-centric approach in working with committed companies; streamline assistance for greater effectiveness; and leverage partnerships for greater reach.
In his speech, he said: “We want to grow stronger Singapore enterprises, so that they are a key engine of growth for our economy, and they can create good jobs for Singaporeans.”
“We will do so by helping Singapore enterprises upgrade & enhance productivity, innovate & transform, grow and globalise their businesses,” he said.
Taking an enterprise-centric approach, Enterprise Singapore is structured to help companies of all sizes; from startups, micro and small companies, to mid-sized and large companies, to grow stronger and stay globally competitive. Based on their stage of growth, the industry in which they operate, and their overseas markets of interest, Enterprise Singapore will work with companies to enhance productivity, innovate, go digital, develop talent and internationalise.
In a nutshell, Enterprise Singapore will:
- Look at the specific needs of each group;
- Provide simplified but comprehensive suite of programmes aimed at helping enterprises in each segment;
- Focus its programmes and efforts on helping enterprises upgrade and enhance productivity, innovate and transform, grow and globalise;
- Work with public and private sector partners, local and foreign, to provide domain-specific, industry-specific and market-specific assistance.
All these is so that Singapore enterprises who are willing, will find it easy to tap on these assistance programmes to compete in their respective markets.
Additionally, as the single touchpoint, Enterprise Singapore will streamline its assistance and processes to support the growth of committed companies. For a start, the new Productivity Solutions Grant (PSG) integrates three existing programmes to make it easier for companies to apply for ready-to-adopt IT solutions and equipment to improve productivity - the new Enterprise Development Grant (EDG) combines the Global Company Partnership (GCP) Grant and Capability Development Grant (CDG) into one single grant to support companies to transform and innovate. EDG will be available from October 2018.
To expand the agency’s reach and support ecosystem, Enterprise Singapore will partner both Trade Associations and Chambers (TACs) and companies more closely to drive collaboration. For example, the Local Enterprise and Association Development (LEAD) Programme has been enhanced. It now integrates other programmes to offer stronger support for sectors, and will introduce a LEAD Evaluation Panel to boost inter-association partnership.
Additionally, the PACT programme has been enhanced to include overseas projects and drive collaboration among companies of all sizes - be it between small companies, small and large companies, multinational corporations or government agencies.
“The success of Singapore companies is critical to our economy and to create good jobs for Singaporeans. Enterprise Singapore builds on the strengths of IE Singapore and SPRING to drive and shape the future of our companies. To do this well, the work of Enterprise Singapore cannot be done alone. We will work closely with partners to help committed companies innovate and transform, be it to change business models, adopt technology, strengthen talent pool or deepen global networks,” Png commented at the launch.
According to the release, Enterprise Singapore will continue to develop Singapore as a global trading hub, and build trust in Singapore's products and services. This includes working with industry partners to enhance our trade infrastructure ecosystem across finance, risk management, logistics and more, to ensure Singapore’s relevance to the global trading community.
The release said: “As the national standards and accreditation body, Enterprise Singapore will continue to build a robust Quality and Excellence ecosystem to strengthen trust in Singapore’s enterprises, products and services through quality and standards.”
Photo / 123RF